National Republican. (Washington City (D.C.)) 1872-1888, 1887-06-24
FEvER1su AND PANlcKY.
Hammering Down Prices OF Stocks
Yesterday.


New YORK, June 23.-1he transactions
at the stock exchange to-day were the
largest for many weeks, but this increase In
business was entirely at the expense Of
quotations. The uneasy feeling over the
western failures was aggravated this morn
ing by rumors to the effect that the Amerl-
can Exchange Bank OF Chicago was In
trouble, and although the story met with
prompt denial some selling was INDUCED
In, and In tile absence OF any support what
ever-London doing nothing and orders
from out Of town being delayed by the In
terruptlon OF telegraphic communication
the beaIish room traders made the most Of
their advantage and attacked the list at
every vulnerable point.
Other rumors OF damaging character
were set a1oat, one stating that the vice
president and manager OF the Fidelity Bank
had been heavy Spectator In the stock
market and that his holdings were being
realized upon. II was reported that the
dividend on Richmond and West Point pre-
ferred would be enjoined and although
such proceeding would be no detrlment
to the common stock the latter was de-
pressed by the story and the selling OF the
bear clique in that stock. Money was
manipulated up TO 10 per cent. aud 10 the
general confusion the announcement Of the
favorable features met with no recognition.
The market was kept In feverish aud at
times even panicky state throughout the
day and the recoverles at different periods
lacked force and amounted TO little.
The opening was steady and quiet, and
the market presented the same general fea-
lures usual OF late, though New England
early developed marked weakness, which
soon extended to the entire list. After the
end OF the first hour the downward move
ment assumed large proportions and New
England, jersey Central, Richmond and
West Point, and several others became con-
spicuous for the declines established while
the amount Of business done underwent a
heavy. increase. A general reaction was
had after noon, but the gains were confined
to fractions. st. Paul lead of on the de.
cline, which followed aud prices were
further depressed before 2 p. M, when the
lowest figures Of the day were generally
reached. The activity was largely reduced
on the succeeding rally, but the decline was
renewed in the last hour, and although the
close was on recovery from this decline
the market was weak and the figures with
many stocks at their lowest prices.
Money on call has been very tight, ranging
from o to Is, last loan at Q, and closing
at IL bid. Sterling exchange Is dull at
unchanged quotations. Actual business at
4S32 to asa for G0-day bills, and 4S4i to 4s5
for demand. Posted rates 4S4i to 1856.
Government bonds have been dull and
heavy. State bonds have been dull and
steady.
Treasury balances-Coin, sls5, s,O14;
currency, ST., 546,3l2.
The following were the closing bid quo
tations'
Dis. 49, 81 eo w. iS r IS Is icS S Es Gsal
$50: Mo. Is of 'S7, 102; N. G.. Con. 6s 100
d az. 49, 100; Tenn settlement Ss, Io7; do. g
Tenn Sa rs 49, a. d9 cSn sS bsS e. %
Deny. and 4. G. nrsts, 81; NJ. X. and T., g7ss
Northern Pac. ilrsts, lis; do. seconds, 1898
Northwestern cons, 1884; do. debenture, li6
St. l., Chicago, and Pae. hrsts, 1873; Southern
Pac. ilrsts, nj; West Shore, iO3]S; Adam,
2%I % f l a'9 lSs sn So T. HI III ao DID, aS b.
B. G. and r. N, As; Canada Southern, 81
Canton, IS; Cen. Pae., 49,. Ches. and Ohio
g. Sh SnS and A'O cleveland lis do lS3
Con, Coal, 20; Del, and Hud,, lO2; Del AND
L., 1885; DENY. and r. G., 29LI Erie, 32i4; do
gfd., 5Oi Fort Wayne, i5l; Harlem, 2lo
and and Texas, 2s7{ I. E; and W, 22i Lake Shore
lSSh; On NJ and Char. o.; Met. L., 200; Mich
Gen Gen eO No. , Pac'; lo5; Mob and O., I3N
55sz; Norfolk and Western pfd., IL; Northern
DO pid, Ids; r. Y Cen Cen. III: Chicago i s1s
g. L.. III, do, pfd. sall}; Ohio and Miss, IS
do. pfd.,, So; Oregon Nay, 9914: Pac. Mail
and Aleg,,-; Richmond and Dan, $780, Rock
Isld, 130l4 ST. /. and San. Fran, d0l4, do. pfd.
7715S; DO. first pfd 1l6 st: Paul, 500; do: pid.
Pac., S0sS; Union Pac., 573S: q. s. X, 6s; Wab
Pac., 10; do. pfd., 3314; Wells Fargo, 1888; West
Union, 7bE: Tenn. Coal and Iron, 36IS; Cotton
OIL Trust, 1914; Quicksilver, 81; do. pfd., 3214
o-s.s.. s-..ss .v.ss.S..v.